Developer Hal Barry summarized the events leading up to the recent foreclosure of one of the project’s buildings. It’s a story that’s become all too familiar in the last few years:

“We did well and made a lot of money…[a]nd we turned around, as risk-taker developers do, and reinvested a lot of it in operating expenses and project investments. And then the market hits you broadside.”

Among the items MARTA requested are a variable regional fare system (sometimes referred to as “zone fares”) , on-board security cameras for all buses, trains and paratransit vehicles, an advertising system for the agency’s 10 miles of tunnels and the establishment of a cloud computing system to assist in post-disaster recovery and service continuity.

The 436-item list, with projects totaling about $29 billion, will be pared down first by the GDOT’s planning director, then by the 21 members of the Atlanta Regional Roundtable. Voters in each of the state’s 12 regions will decide during primary elections in 2012 whether to approve a new one percent sales tax to fund their regions’ projects.